Summit Global Investments Takes $261,000 Position in Knife River Co. (NYSE:KNF)

Summit Global Investments acquired a new position in Knife River Co. (NYSE:KNF) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,563 shares of the company’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KNF. Larson Financial Group LLC lifted its stake in shares of Knife River by 58.6% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after acquiring an additional 157 shares during the period. GAMMA Investing LLC lifted its position in Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock worth $55,000 after purchasing an additional 227 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Knife River during the 3rd quarter valued at $60,000. Lee Danner & Bass Inc. acquired a new position in shares of Knife River during the 4th quarter valued at $109,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Knife River by 40.2% in the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock worth $169,000 after buying an additional 476 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Knife River Trading Up 6.4 %

NYSE:KNF opened at $96.91 on Tuesday. The stock has a fifty day simple moving average of $97.96 and a 200 day simple moving average of $96.49. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last announced its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The company had revenue of $657.20 million during the quarter, compared to analysts’ expectations of $655.80 million. Sell-side analysts forecast that Knife River Co. will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KNF shares. Oppenheimer raised their target price on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stephens reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Finally, Wells Fargo & Company assumed coverage on shares of Knife River in a report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River has an average rating of “Buy” and an average price target of $110.40.

Knife River Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.